Our experienced tax advisors work with you to advise on the tax implications of your pensions.
We will alert you when there are changes to the rules on pensions and advise you on the best courses of action. Pensions legislation can and does change frequently, even within the same tax year. On the one hand we are seeing increasing restrictions on tax relief when investing in pensions, yet there is now much greater flexibility and choice when looking to take retirement benefits. Our team can apply its expertise to your personal situation, from the basics to the more complex areas of pensions taxation.
When looking to start drawing down your pension, our expert tax accountants can advise you on:
- How will my pension be taxed?
- What part of my pension is tax-free?
- Taking tax-free lump sums
- Paying tax on pensions when you live abroad
- Double tax - what to do if you live in a country without a double taxation agreement with the UK
- Retirement benefits
- Higher tax on unauthorised payments (payments made outside of the government’s tax rules)
- What is the tax on an annuity I buy with my pension fund?
- How do I pay tax on a private pension I inherit?
Pension tax reliefs and opportunities
BSR Bespoke is skilled at advising on the tax reliefs and opportunities for pension funding, as well as any ‘Workplace Pension’ obligations, for the following groups:
- Employees
- Self-employed individuals
- People looking to move abroad
- Business owners.
We can also advise on:
- Unused and restricted annual allowances
- Lifetime allowances
- Pension saving tax charges
We work closely with a number of excellent and trusted pensions consultants and provide that essential link to ensure that the tax advice and investment advice that our clients receive is fully harmonised.